Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Gemsstock Ltd.

Gemsstock Ltd. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 32.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 144,700 shares of the information services provider’s stock after selling 70,100 shares during the quarter. Alphabet accounts for approximately 11.7% of Gemsstock Ltd.’s holdings, making the stock its 5th largest holding. Gemsstock Ltd.’s holdings in Alphabet were worth $24,192,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Abich Financial Wealth Management LLC grew its stake in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of Alphabet in the second quarter worth $37,000. HWG Holdings LP acquired a new stake in Alphabet in the second quarter valued at $40,000. Sanctuary Wealth Management L.L.C. boosted its stake in Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares during the last quarter. Finally, Slocum Gordon & Co LLP acquired a new position in Alphabet during the 2nd quarter worth $44,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the sale, the director now directly owns 319,966 shares in the company, valued at approximately $56,765,168.06. The trade was a 3.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total transaction of $3,570,300.00. Following the transaction, the chief executive officer now owns 2,137,385 shares of the company’s stock, valued at approximately $339,160,251.80. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 184,295 shares of company stock worth $30,698,791. 12.99% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Citigroup upped their target price on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer lifted their target price on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. DA Davidson raised Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Barclays boosted their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group increased their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Stock Performance

Shares of GOOG stock opened at $179.58 on Wednesday. Alphabet Inc. has a 12-month low of $129.40 and a 12-month high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a market capitalization of $2.20 trillion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 1.22 and a beta of 1.04. The business has a 50 day simple moving average of $168.15 and a 200 day simple moving average of $171.87.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.55 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 7.99 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet’s payout ratio is 10.61%.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.